⛔️The Hong Kong Stock Exchange launches a Blockchain-based payment platform.

The Hong Kong Stock Exchange's Stock Connect system, which links the Hong Kong stock market with the stock market in mainland China, is being upgraded using blockchain technology.

The upgraded Stock Connect, named Synapse, will incorporate smart contracts to help with post-trade workflows and reduce settlement risk.

Synapse can simultaneously generate payment instructions for all parties in the payment chain, facilitating simultaneous processing, while providing near-instant status updates to all parties involved in the transaction. , a technical pamphlet that explains, this is important when connecting traders on two different platforms

⛔️Stock Connect's average daily turnover totaled USD 15.302 billion (RMB 109.3 billion) in the first half of 2023, up 5% from a year earlier and up 50% from 2020 levels.